300309.SZ announced that based on the long-term needs of the company's strategic planning and business development, in order to reduce the company's operation and management costs and improve the overall use efficiency of the company's assets. The wholly owned subsidiary "PetroChina Dangara Refinery" Co., Ltd. ("the refinery" or the seller) intends to sign an "asset sale and purchase contract" with "SITORA" Technology complex Co., Ltd. ("SITORA" or the buyer), which intends to sell all its plant, equipment, machinery and low-value consumables in the Dangara Development Zone, Tajikistan, as well as its two villas in Dushanbe to SITORA. The company has engaged an asset appraisal institution to evaluate the proposed assets on August 31, 2022. According to the Asset Evaluation report issued by Zhengheng Real Estate Asset Evaluation Co., Ltd., the total valuation price of the proposed assets is 265.8529 million yuan. Based on the total evaluation price, the transfer consideration was finally determined to be US $41 million through friendly negotiation between the two parties.
The transaction is expected to increase the company's net assets by RMB 100 million and the total profit by RMB 100 million (excluding transaction-related fees), the specific amount of which shall be subject to the amount disclosed in the audited accounting statements. The sale of the relevant assets of the Tajik refinery is based on the long-term needs of the company's strategic planning and business development, in order to reduce the company's operation and management costs and improve the overall use efficiency of the company's assets, the arrangement of optimizing the allocation of resources and invigorating the stock of assets will help the company to increase cash flow, improve the company's financial situation, reduce operational risks, further optimize the allocation of resources, and focus on the core business. To improve the sustainable operation ability of the company, there is no harm to the interests of the minority shareholders of the company.